Royal Park Investments SA/NA v. HSBC Bank USA National Association

  1. August 30, 2019

    Royal Park Says It's Settling RMBS Suit Against HSBC

    Royal Park Investments SA/NV has reached a tentative deal to settle its lawsuit blaming HSBC Bank USA NA for more than $1 billion in alleged investor losses on three pre-crisis residential mortgage-backed securities trusts that the bank oversaw as trustee, according to a letter filed in New York federal court.

  2. February 05, 2018

    RMBS Investors Lose Class Cert. Bid In Suit Against HSBC

    A New York federal judge has declined to certify two proposed classes of investors in suits accusing HSBC Bank USA NA of bungling its duties as trustee to more than 200 residential mortgage-backed securities trusts, ruling that would-be class members face too many individual questions around standing and statutes of limitations to warrant class treatment.

  3. July 31, 2017

    Investment Fund Wants Review Of Doc Order In HSBC Fight

    An investment fund suing HSBC Holdings PLC over failed mortgage-backed securities on Friday said it intends to seek reconsideration of a federal magistrate judge's order that it turn over more than 1,000 unredacted documents to the bank.

  4. July 25, 2017

    HSBC Wins Unredacted Docs In MBS Dispute

    A federal magistrate judge on Monday ordered an investment fund suing HSBC Holdings PLC over failed mortgage-backed securities to turn over more than 1,000 documents without redacting personal information contained in those messages, despite the fund's concerns over potential privacy violations.

  5. July 18, 2017

    Royal Park Blasts HSBC's Discovery Bid In RMBS Case

    Royal Park Investments SA/NV argued in New York federal court Monday that HSBC Bank USA NA is wasting judicial resources by demanding access to unredacted foreign documents in a suit over allegedly toxic residential mortgage-backed securities.

  6. July 11, 2017

    Royal Park Says 2nd Circ. Petrobras Ruling Backs Class Cert.

    Royal Park filed a flurry of letters in New York federal court Monday, saying the Second Circuit's recent decision in Petrobras investor litigation renders "baseless" three big banks' objections to certifying Royal Park's proposed class actions alleging the banks failed to protect investors from toxic mortgage-backed securities.

  7. June 28, 2017

    HSBC Says Housing Crash Claims Too Varied For Class Action

    A unit of HSBC Holdings PLC told a New York federal judge Tuesday that billions of dollars of legal claims stemming from the failure of mortgage-backed securities it oversaw could not be resolved through class actions, saying the disputes need to be resolved on a loan-by-loan basis.

  8. June 07, 2017

    Investors Fight HSBC's Push To Reserve Atty-Advice Defense

    Mortgage investors have urged a New York federal court to uphold a magistrate judge's recommendation that barred HSBC from asserting an advice-of-counsel defense in multiple cases over toxic mortgage-backed securities, saying the bank shouldn't be able to reserve the defense after shielding discovery behind attorney-client privilege.

  9. May 23, 2017

    HSBC Fights For Right To Legal Advice Defense In MBS Row

    HSBC urged a New York federal court Monday to reject a magistrate judge's recommendation to bar the bank from deflecting blame onto its lawyers in a raft of cases alleging HSBC failed to protect investors from toxic mortgage-backed securities, saying it is too early to know whether it will raise the defense.

  10. May 09, 2017

    HSBC Can't Raise Atty Advice In RMBS Cases, Judge Says

    An HSBC Holdings PLC unit facing allegations concerning its oversight of residential mortgage-backed securities trusts cannot defend itself by arguing it relied on its attorneys' advice while refusing to divulge its contents, a New York federal magistrate judge said Monday.